Why the digital shift calls for a strong cyber security ecosystem

Considering that the organizations are robustly adopting mobile workforce for internal communication as well as conversations outside the workplace, a stark cyber security threat is surfacing at an individual as well as at the company level. As per the analysis made by cyber security experts, cyber criminals have their hands on every possible sector from WHO to Cognizant to MSMEs; no one can be deemed safe, not even individuals.

But organizations are at higher risk level as they are invested with a humongous amount of sensitive data, be it related to customers’ bank details or personal information or healthcare companies, government agencies, etc. who cannot afford to lose even the minutest cent of any information.

Cyber criminals are constantly involved in unraveling the vulnerabilities of the organization vesting a great amount of strain on the security teams to safeguard the backend data and files. Therefore, businesses need to invest strategically in the security structure as they may overestimate themselves to be well equipped against data breach but in the process, they fail to realize that they are not adequately prepared to deal with the minute intricacies of the hacking techniques as it is not just limited to phishing efforts.

Moreover, data breach not just accounts for a monetary loss but there are serious irreparable damages made to the organizations that cannot be healed even after putting things to the right place. Apart from paying an expensive legal fee, the business reputation is also at stake as they fail to safeguard sensitive data, exposing the clients or customers to high factors of risk.

Likewise, unnecessary expenditure is added that entails the fine, employee workflow disruption and additional costs to restore the data and network that ensures company safety. Therefore, losing data can impact the trust of customers, stakeholders, and clients while hampering the reliability of the organization. This in return menaces with the growth opportunities affecting the overall future of the firm.

Nowadays most of the cyber intrusions are planned through automated bot links which divert the security teams’ attention to gain access to the systems and this can be done without the involvement of hackers. Thus, the digital sector always being under the radar of utter morphosis, it becomes a prerequisite for companies to employ mechanisms that are up to date in combating with the latest technology.

Moving ahead, to combat the rising cyber threat while ensuring effective security:

• Safe Communication Framework

Companies should incorporate a secure communication mechanism in their framework. By doing so businesses can closely monitor the data circulated within and outside the company and keep a tab of the unauthorized access and manipulation.

• End to end Encryption process

Most of the organizations do not encrypt communication while others are invested with limited knowledge and hence, only encrypt the emails till it reaches the destination but not when it is being stored in the receiver’s servers. Here they fail to realize that encryptions work only when the sender, as well as the receiver, implement and support the method of encryption. Hence, it is important to ensure that the stakeholders, clients of the business completely comply with the security measures taken by the company to achieve secure communication.

• Implementing firm Security Policies

In addition to this, proper and firm security policies for communication need to be developed that can govern the various day to day issues like password, using a personal system for work, accessing company systems while remote working, etc. To ensure the effective functioning of these policies, it should be supported with training where procedural awareness is imparted on regular updates, data storing, backing up, etc. to establish a security architecture that acts as a resistance against security violations.

• Setting up a diligent Enforcement Team

The next step would be to establish a monitoring and enforcement team that will make sure that everyone complies with the policies of the company. Given that the modern business is majorly driven by a huge amount of electronic communication, a monitoring system is essential to check the looming unauthorized app, password hacking while keeping an eye on track service availability. The monitoring department is entitled to take care of information usage and traffic in order to verify with the information distribution policy so that in case of any policy violation they can perform the enforcement actions.

• A secure communication platform

Given that 80 percent of the professionals communicate over text for work-related purposes, organizations must employ a reliable and secure enterprise text messaging platform for any form of communication. Using such platforms gives better control over the conversations which keep organizations at lower levels of risk in terms of data theft.

This gives a workforce the liberty to collaboratively work outside the business without the fear of being intercepted by unauthorized users. Moreover, such platforms do not come in the way of the smooth functioning of a workplace rather enhances the productivity of the employees.

A data breach can pose a serious threat to startups and MSMEs who lack the knowledge to resolve such issues, and may face a possibility of complete shutdown. Hence, the companies should carry out all their communications within the range of a reliable platform that is accountable for all the security arrangements of the company, which if not monitored closely could lead the loss of data that can cost the organization a fortune.

By Sudhir Naidu, founder and CEO of Troop Messenger, An Indian Business Communication platform